Tesla’s Model 3 outsells petrol-using competitors

Tesla’s Model 3 outsells petrol-using competitors

Tesla’s Model 3 outsells petrol-using competitors
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In the battery electric vehicle segment, Models 3 and Y took first and second places, followed by Volkswagen’s ID.3.

Strong September Results

Jato said, “September has historically been a strong month for the US manufacturer’s registration results in Europe, on average accounting for 68% of its third-quarter deliveries since 2018.”

“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” Hertz interim CEO Mark Fields told Reuters.

Tesla is currently waiting for approvals for its first European gigafactory in Gruendheide near Berlin, which CEO Elon Musk is hoping will begin production this year. Musk has also set an annual sales growth target of 50%, meaning eventually producing 20-million vehicles a year. More than twice the volume of current sales leaders Volkswagen and Toyota.

According to Business Live online, Tesla’s market value surpassed $1-trillion last month, after landing its biggest-ever order from rental car company Hertz.

Tesla is the first carmaker to join the elite club of trillion-dollar companies and reported shares up almost 15% to $1,045.02. Others in the club include Apple, Amazon, Microsoft and Alphabet, .

With the mega-investment by Hertz, ordering 100,000 Tesla vehicles by the end of 2022, it seems that electric vehicles (EVs) are no longer a niche product, but are joining the mainstream as competitors in the mass car market.

Adapted from an original Business Live article found here.

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